Yes he can fly level. He can gain altitude and he can also bank turn. I have seen a few videos of him testing it and in one of the videos he does 3 banks turns before deploying his chute and landing. He is capable of moving small flaps on the wings that all him to roll side to side.

Here is a youtube video in which a small overview is given and flight.
http://www.youtube.com/watch?v=bEXxkWXncuo